Drumbeat: June 16, 2012

Posted by Leanan on June 16, 2012 - 10:44am Rising US crude output may open door to exports-API head WASHINGTON (Reuters) - As U.S. oil production climbs to record levels, the United States should eventually consider easing its restrictions on crude exports, the head of a powerful oil lobbying group said on Friday. U.S. oil production hit the highest quarterly level in 14 years in the first three months of 2012, the government said last week, as technologies including hydraulic fracturing, or fracking allow drillers access to vast new reserves. America's changing energy fortunes call for more support of domestic oil and gas production, and possibly an eventual shift in U.S. energy export policy, American Petroleum Institute President Jack Gerard told Reuters in an interview. "It's a serious consideration as we continue to produce more and more in this country," Gerard said...